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BUSINESS PROPOSAL PRIME MINISTER YOUTH PROGRAM

 
 

Cobble Stone Manufacturing Unit

   
 

P A K I S T A N

 

S T O N E

D E V E L O P M E N T

 

B Y C O M P A N Y

 
 

2014

 
 

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Contents

Contents

2

DISCLAIMER

4

PURPOSE OF THE DOCUMENT

4

INTRODUCTION

TO

PASDEC

5

INTRODUCTION

TO

SCHEME

5

EXECUTIVE SUMMARY

5

BRIEF DESCRIPTION OF PROJECT AND PRODUCT

6

Location:

6

Product:

6

Target Market:

6

Employment

Generation:

 

6

Profitability:

6

CRITICAL FACTORS

 

6

GEOGRAPHICAL POTENTIAL FOR INVESTMENT

7

PROJECT COST SUMMARY

7

Project Financial Analysis:

 

8

Project

Financing

8

PROJECT COST AND ITS FINANCING PLAN

9

OPERATING EXPENSES/COST OF GOOD PRODUCED

10

OPERATING EXPENSES/COST OF GOOD PRODUCED

10

ADMINISTRATION MARKETING AND OTHER EXPENSES

11

Human Resource Requirement:

12

DETAIL OF ASSETS

 

12

Depreciation on Assets

13

Production and Sales:

13

Depreciation on Assets 13 Production and Sales: 13 PASDEC Services / Information related to PM’s Youth
Depreciation on Assets 13 Production and Sales: 13 PASDEC Services / Information related to PM’s Youth

PROJECTED FINANCIAL STATEMENTS:

14

Projected Income Statement:

15

Projected Cash Flow Statement:

16

Projected Balance Sheet:

17

LOAN AMMORTIZATION SCHEDULE:

18

USEFUL LINKS

18

CONTACT DETAILS:

19

18 USEFUL LINKS 18 CONTACT DETAILS: 19 PASDEC Services / Information related to PM’s Youth
18 USEFUL LINKS 18 CONTACT DETAILS: 19 PASDEC Services / Information related to PM’s Youth

DISCLAIMER

This information memorandum is to introduce the subject matter and provide a General idea and information on the subject. Although, the material included in this document is based on data / information gathered from various reliable sources; however, it is based upon certain assumptions which may differ from case to case.

The information has been provided on as is where basis without any warranties is or assertions as to the correctness or soundness thereof. Although, due care and diligence has been exercised to compile this document, the contained information may vary due to any change in any of the concerned factors, and the actual results may differ substantially from the presented information. PASDEC, its employees or

agents do not assume any liability for any financial or other loss resulting from this memorandum in consequence of undertaking this activity. The contained information does not preclude any further professional advice. The prospective user of this memorandum is encouraged to carry out additional diligence and gather any information which is necessary for making an informed decision,

Including taking professional advice from a qualified consultant / technical expert before taking any decision to act upon the information.

PURPOSE OF THE DOCUMENT

The objective of the pre-feasibility study is primarily to facilitate potential entrepreneurs in project identification for investment. The project pre-feasibility may form the basis of an important investment decision and in order to serve this objective, the document / study covers various aspects of project concept development, start-up, and production, marketing, finance and business management.

The purpose of this document is to facilitate potential investors to start marble and granite trading business by providing them with a general understanding of the business with the intention of supporting potential investors in crucial investment decisions.

The need to come up with pre-feasibility reports for undocumented or minimally documented sectors attains greater imminence as the research that precedes such reports reveal certain thumb rules; best practices developed by existing enterprises by trial and

practices developed by existing enterprises by trial and PASDEC Services / Information related to PM’s Youth
practices developed by existing enterprises by trial and PASDEC Services / Information related to PM’s Youth

error, and certain industrial norms that become a guiding source regarding various aspects of business set-up and it’s successful management.

Apart from carefully studying the whole document one must consider critical aspects provided later on, which form basis of any investment decision.

INTRODUCTION TO PASDEC

The Pakistan Stone Development Company (PASDEC) was established in June 2006 for development of marble and granite sector of Pakistan.

The mandate of PASDEC is to establish model project for development of value chain to introduce new technology, practices and to meet skill development needs of the sector. PASDEC has established fifteen Mechanized Quarries, two machinery pools, two warehouses and work on progress on three marble cities, four common facility training centers. Besides this PASDEC has trained more than 1400 trainees on different traits of marble and granite value chain.

INTRODUCTION TO SCHEME

Prime Minister’s Youth Business Loan is for young entrepreneurs, with an allocated budget of Rs. 5.0 Billion for the year 2013-14, is designed to provide subsidized financing at 8% mark-up per annum for one hundred thousand (100,000) beneficiaries, through designated financial institutions, initially by The

National Bank of Pakistan (NBP) and The First Women Bank Ltd. (FWBL). Loans from Rs. 0.1 million to Rs. 2.0 million with tenure up to 8 years inclusive of 01 year grace period and a debt : equity of 90 : 10 will be disbursed to SME beneficiaries across Pakistan, covering; Punjab, Sindh, Khyber Pakhtunkhwah, Baluchistan, Gilgit Baltistan, Azad Jammu &Kashmir and Federally Administered Tribal Areas (FATA).

EXECUTIVE SUMMARY

Cobble Stone Manufacturing Unit is proposed to be located at or near Marble Processing clusters of, Gujranwala, Lahore, Lasbella, Multan, Peshawar, Karachi Rawalpinidi, Rawat, Risalpur, Swat, Buner and Quetta, also where most of the marble cutting exist as the raw material to make the cobble stone is available in abundance near to processing cluster or at quarries.

in abundance near to processing cluster or at quarries. PASDEC Services / Information related to PM’s
in abundance near to processing cluster or at quarries. PASDEC Services / Information related to PM’s

The proposed project will produce Cobble stone product from the quarry /processing waste to sell be sold in local and international market. It will be a unique product in Pakistani market as no one is producing this product at the moment.

The entrepreneur will start selling from cobble stone to local market and international market as huge demand exists for this product. This increase with passage of time and leaning and increased knowledge and clientage.

The project total cost is Rs. 2,307,389 including capital costs of Rs.1,422,000 million rests is the working capital requirements. The project NPV is Rs.2.9m and IRR 40 % with payback period of 2 years, 10 months.

BRIEF DESCRIPTION OF PROJECT AND PRODUCT

The project is related to setting Trading House of Marble & Granite Products.

Location:

The office may be located in or near marble processing clusters at , Gujranwala, Lahore, Lasbela, Multan, Peshawar, Rawalpinidi, Rawat, Karachi ,Khuzdar , Lasbella, Risalpur, Swat, Buner, Dir and Quetta, also where most of the raw material is coming from the quarries or where processing units are exist.

Product:

Cobble Stone of Marble and Granite for local and international market.

Target Market:

Target market for the cobble stones is local show room of Karachi, Lahore, Multan , Gujranwala , Peshawar, Karachi and internationally at Dubai, Saudia, Qatar etc. Besides this the entrepreneur can also target projects like, Bahria Town, DHA etc.

Employment Generation: The proposed project will provide direct employment to 6 people.

Profitability: The Financial Analysis shows that the business will be profitable from the very first years of its operations.

CRITICAL FACTORS

The following factors should be considered thoroughly:

· Efficient and cost effective procurement & sourcing.

· Efficient and cost effective procurement & sourcing. PASDEC Services / Information related to PM’s Youth
· Efficient and cost effective procurement & sourcing. PASDEC Services / Information related to PM’s Youth

· Entrepreneur himself should thoroughly understand marble and granite quality parameters

· Availability and retention of skilled labour who can understand quality of stone.

· Effective market linkages, especially with processing units, quarry owners and exports and foreign customers, middle man & transporters.

GEOGRAPHICAL POTENTIAL FOR INVESTMENT

Marble and Granite mines of Pakistan are mainly located in Baluchistan (Chaghi, Lasblea, Loralai, Mastong, and Naal), Khyber Pakhtunkhwa/Federally Administered Tribal Areas (Bunair, Mardan, Mohamand, Swat), Chitral, and Sindh (Dadu, johi range). The major marble processing clusters are concentrated in specific areas of

Karachi , Gujranwala, Islamabad/Rawal pindi, Karachi, Lasbela, Lahore, Peshawar, and Nowshehra/Risalpur.

Raw Material used to make cobble stones is widely available at processing cluster and quarries hence location of the project should be near source.

PROJECT COST SUMMARY

A detailed financial model has been developed to analyze the commercial viability of the Marble & Granite Trading House under the Prime Minister’s Small Business Loan Scheme. Various costs and revenues related assumptions along with results of the analysis are outlined in this section.

with results of the analysis are outlined in this section. PASDEC Services / Information related to
with results of the analysis are outlined in this section. PASDEC Services / Information related to

Project Financial Analysis:

Internal Rate of Return (IRR)

Payback Period (yrs)

Net Present Value (NPV) (Rs.)

40%

2 year 10 months

2.9m

Returns on the scheme and its profitability are highly dependent on the efficiency of efficient procurement system from marble suppliers, sound market knowledge and trends about the international and domestic market, availability and retention of skilled labour, suitable office location, appropriate technology and effective marketing campaign.

Project Financing

Total Equity (15%)

Rs. 346,108

Bank Loan (85 %.)

Rs. 1,961,281

Markup to the Borrower (%age/annum)

8%

Tenure of the Loan (Years)

8

Grace Period (Year)

1

Tenure of the Loan (Years) 8 Grace Period (Year) 1 PASDEC Services / Information related to
Tenure of the Loan (Years) 8 Grace Period (Year) 1 PASDEC Services / Information related to

PROJECT COST AND ITS FINANCING PLAN

CAPITAL COST

(PKR)

Plant, Machinery and Equipment

1,300,000

Furniture and Fixtures

-

122,000

-

TOTAL

1,422,000

NET INITIAL WORKING CAPITAL

885,389

TOTAL PROJECT COST

2,307,389

EQUITY

15%

346,108

BANK FINANCING

85%

1,961,281

 

2,307,389

BANK FINANCING 85% 1,961,281   2,307,389 PASDEC Services / Information related to PM’s Youth
BANK FINANCING 85% 1,961,281   2,307,389 PASDEC Services / Information related to PM’s Youth

OPERATING EXPENSES/COST OF GOOD PRODUCED

   

Years

1

2

3

4

5

 

(PKR)

Salaries, wages and benefits

600,000

630,000

661,500

694,575

729,304

Electricity

240,000

252,000

264,600

277,830

291,722

Stores spares consumed

23,400

23,400

24,570

25,799

27,088

Carriage outwards

882,000

882,000

1,008,000

1,134,000

1,260,000

Repair and maintenance

12,200

12,810

13,451

14,123

14,829

Water charges

10,000

10,500

11,550

12,705

13,976

Insurance

9,750

10,238

10,749

11,287

11,851

Raw Material

378,000

396,900

416,745

437,582

459,461

Contingencies

13,170

13,770

14,459

15,181

15,940

Depreciation

231,370

231,370

231,370

231,370

231,370

Medical Expenses

30,000

31,500

33,075

34,729

36,465

Total Operating Cost

2,429,890

2,494,488

2,690,068

2,889,181

3,092,007

2,494,488 2,690,068 2,889,181 3,092,007 PASDEC Services / Information related to PM’s Youth
2,494,488 2,690,068 2,889,181 3,092,007 PASDEC Services / Information related to PM’s Youth

ADMINISTRATION MARKETING AND OTHER EXPENSES

   

Years

1

2

3

4

5

Salary and benefits

120,000

132,000

145,200

159,720

175,692

Electricity

36,000

37,800

39,690

41,675

43,758

Communication

60,000

63,000

66,150

69,458

72,930

Printing and Stationary

24,000

25,200

26,460

27,783

29,172

Yard Rent/Factory Rent

600,000

630,000

661,500

694,575

729,304

Newspapers and periodicals

6,000

6,300

6,615

6,946

7,293

Entertainment expenses Bank charges

60,000

63,000

66,150

69,458

72,930

19,530

20,507

24,608

29,068

33,913

Depreciation

40,830

40,830

40,830

40,830

40,830

Medical Expenses

6,000

6,600

7,260

7,986

8,785

Marketing Expenses

20,000

22,000

24,200

26,620

29,282

992,360

1,047,237

1,108,663

1,174,117

1,243,889

992,360 1,047,237 1,108,663 1,174,117 1,243,889 PASDEC Services / Information related to PM’s Youth
992,360 1,047,237 1,108,663 1,174,117 1,243,889 PASDEC Services / Information related to PM’s Youth

Human Resource Requirement:

S.No

Staff

 

Salaries

Annual

Year 1 #

per month

salaries

1

Operator

2

20,000

480,000

2

Labor

2

10,000

240,000

4

Peon

1

10,000

120,000

 

5

40,000

840,000

DETAIL OF ASSETS

A - PLANT MACHINERY AND EQUIPMENT

IMPORTED MACHINERY

       

Price /

 

S.No

Machine

Make

Quantity

Unit

Total Cost

 

Hydraulic Press for Making Cobble stone

       

1

with Accessories

1

1,300,000

1,300,000

2

     

1,300,000

 

B - BUILDING AND CIVIL WORKS

 
     

Covered Area

Rate

Cost

     

Square feet

   
 

Building Area

 

5000 sqft

Rental

Rental

     

-

 

-

 

C - FURNITURE AND FIXTURES AND OFFICE EQIPMENTS

 
 

Chairs

   

4 8000

32,000

 

Computer

   

1 60000

60,000

 

Tables

   

1 5000

5,000

 

Cabinets

   

1 5000

5,000

 

Printer ,Scanner, Camera,

   

1 20000

20,000

         

-

         

122,000

  -           122,000 PASDEC Services / Information related to PM’s Youth
  -           122,000 PASDEC Services / Information related to PM’s Youth

Depreciation on Assets

Depreciation on the assets has been charged at the following rates:

· Furniture & Fixtures

10%

· Machinery

20%

Production and Sales:

PROJECTED SALES FOR THE YEAR ENDED 30 JUNE

   

Years

1

2

3

4

5

Capacity Utilization

70%

70%

80%

90%

100%

Product Sales

3,906,000

4,101,300

4,921,560

5,813,593

6,782,525

3,906,000

4,101,300

4,921,560

5,813,593

6,782,525

Total Sales per piece Sales price per piece

 

126,000

126,000

144,000

162,000

180,000

31

33

34

36

38

Total Sales

3,906,000

4,101,300

4,921,560

5,813,593

6,782,525

Total Production

Pieces 180,000
Pieces
180,000

Sales price per piece

 

Production per Month 6x6x4inches

180,000

31

per Month 6x6x4inches 1 8 0 , 0 0 0 3 1 PASDEC Services / Information
per Month 6x6x4inches 1 8 0 , 0 0 0 3 1 PASDEC Services / Information

PRODUCTION SCHEDULE

   

Years

1

2

3

4

5

Capacity Utilization

100%

70%

70%

80%

90%

100%

Production per year

180,000

126,000

126,000

144,000

162,000

180,000

Pieces

180,000

126,000

126,000

144,000

162,000

180,000

Mothly production

-

-

-

-

-

-

-

-

-

-

 

180,000

126,000

126,000

144,000

162,000

180,000

Mothly production Pieces Monthly Production in sq ft

15,000

10,500

10,500

12,000

13,500

15,000

7,500

5,250

5,250

6,000

6,750

7,500

PROJECTED FINANCIAL STATEMENTS:

The projected Income Statement, Cash Flow Statement and Balance Sheet are as under.

Cash Flow Statement and Balance Sheet are as under. PASDEC Services / Information related to PM’s
Cash Flow Statement and Balance Sheet are as under. PASDEC Services / Information related to PM’s

Projected Income Statement:

PROJECTEDPROFITANDLOSS ACCOUNT FOR THE YEAR ENDING ON 30 JUNE

   

Years

 

APPENDIX

1

2

3

4

5

 

(PKR)

 

3.84

4.21

3.50

3.14

SALES

3,906,000

4,101,300

4,921,560

5,813,593

6,782,525

Operating cost

2

(2,429,890)

(2,494,488)

(2,690,068)

(2,889,181)

(3,092,007)

GROSS PROFIT

1,476,110

1,606,813

2,231,492

2,924,412

3,690,518

Administration marketing and other expenses Markup Payment on Loan

3

992,360

1,047,237

1,108,663

1,174,117

1,243,889

156,902

156,902

139,318

120,327

99,816

 

-

-

-

-

-

NETPROFITBEFORETAX

326,848

402,674

983,511

1,629,968

2,346,813

Provision for taxation

-

267

70,027

173,494

316,863

PROFIT/ (LOSS) AFTERTAX

326,848

402,406

913,484

1,803,461

2,663,675

Un- appropriated profit / (loss) b/f

-

326,848

729,254

657,095

984,223

326,848

729,254

1,642,738

2,460,557

3,647,898

Appropriation of profits

-

-

985,643

1,476,334

2,188,739

Un-appropriated profit / (loss) carried forward to balance sheet

326,848

729,254

657,095

984,223

1,459,159

326,848 729,254 657,095 984,223 1,459,159 PASDEC Services / Information related to PM’s Youth
326,848 729,254 657,095 984,223 1,459,159 PASDEC Services / Information related to PM’s Youth

Projected Cash Flow Statement:

PROJECTEDCASHFLOWSTATEMENT FOR THE YEAR ENDING ON 30 JUNE

     

Years

Start

1

2

3

4

5

CASH FLOWFROMOPERATINGACTIVITIES

 

Profit / (Loss) before taxation Adjustment for - Depreciation - Financial charges

 

326,848

402,674

983,511

1,629,968

2,346,813

272,200

272,200

272,200

272,200

272,200

19,530

20,507

24,608

29,068

33,913

Profit before working capital changes Change in working capital:

Increase/(Decrease) in current assets Accounts receivable Stores and Spares

 

618,578

695,380

1,280,319

1,931,236

2,652,925

(325,500)

(16,275)

(68,355)

(74,336)

(80,744)

(5,850)

-

(293)

(307)

(322)

 

(331,350)

(16,275)

(68,648)

(74,643)

(81,067)

Increase/(Decrease) in accrued liabilities

 

68,833

3,942

4,233

4,504

4,794

 

356,061

683,047

1,215,904

1,861,096

2,576,653

Payment of financial charges Payment of Tax Payment of Loan installment Net cash flowfromoperating activities

 

(19,530)

(20,507)

(24,608)

(29,068)

(33,913)

 

(267)

(70,027)

173,494

316,863

 

-

(219,805)

(237,390)

(256,381)

(276,892)

336,531

442,467

883,879

1,749,141

2,582,711

CASH FLOWFROMINVESTINGACTIVITIES

 

Purchase of fixed assets

(1,422,000)

-

-

-

-

-

Net cash flowfromInvesting activities

(1,422,000)

-

-

-

-

-

CASH FLOWFROMFINANCINGACTIVITIES

 

Equity contribution Payment of Profits Long TermLoan(Debt)

346,108

-

-

-

-

-

-

-

-

(985,643)

(1,476,334)

(2,188,739)

1,961,281

-

Net cash flowfromfinancing activity

2,307,389

-

-

(985,643)

(1,476,334)

(2,188,739)

Net cash flow for the year

885,389

336,531

442,467

(101,763)

272,807

393,972

Cash and bank balances at the beginning of year

-

885,389

1,221,920

1,664,387

1,562,624

1,835,431

Cash and bank balances at the end of the year

885,389

1,221,920

1,664,387

1,562,624

1,835,431

2,229,403

1,664,387 1,562,624 1,835,431 2,229,403 PASDEC Services / Information related to PM’s Youth
1,664,387 1,562,624 1,835,431 2,229,403 PASDEC Services / Information related to PM’s Youth

Projected Balance Sheet:

PROJECTEDBALANCESHEET AS AT YEAR ENDED 30 JUNE

     

Years

 

Start

1

2

3

4

5

LIABILITIES

CAPITALANDRESERVES Equity Accumulated profit / loss

 

(PKR)

346,108

346,108

346,108

346,108

346,108

346,108

326,848

729,254

657,095

984,223

1,459,159

 

346,108

672,956

1,075,362

1,003,204

1,330,331

1,805,268

CURRENTLIABILITIES Accrued liabilities

-

68,833

72,775

77,008

81,511

86,305

Long TermLoans

1,961,281

1,961,281

1,741,475

1,504,085

1,247,704

970,813

2,307,389

2,703,070

2,889,612

2,584,296

2,659,546

2,862,385

ASSETS

FIXEDASSETS

Fixed Assets

1,422,000

1,422,000

1,422,000

1,422,000

1,422,000

1,422,000

depriciation

-

272,200

544,400

816,600

1,088,800

1,361,000

Total Fixed Asset

1,422,000

1,149,800

877,600

605,400

333,200

61,000

CURRENTASSETS

Accounts receivable

 

- 325,500

341,775

410,130

484,466

565,210

Store and spares

- 5,850

5,850

6,143

6,450

6,772

Cash and bank balances

 

885,389

1,221,920

1,664,387

1,562,624

1,835,431

2,229,403

Total Current Assets

885,389

1,553,270

2,012,012

1,978,896

2,326,346

2,801,385

2,307,389

2,703,070

2,889,612

2,584,296

2,659,546

2,862,385

2,889,612 2,584,296 2,659,546 2,862,385 PASDEC Services / Information related to PM’s Youth
2,889,612 2,584,296 2,659,546 2,862,385 PASDEC Services / Information related to PM’s Youth

LOAN AMMORTIZATION SCHEDULE:

Loan Amortization Schedule

Loan

         

Amount:

Rs. 1,961,281

Tenure:

5 years

Mark-up per year:

10%

 

Grace Period:

1 Year

 

Loan Schedule

 

Instalment

Opening Balance

Instalment

Principal

Interest

Closing Balance

   

Rs.

     

1 Rs. 1,961,281

156,902

Rs. 0

Rs. 156,902

Rs. 1,961,281

   

Rs.

Rs.

   

2 Rs. 1,961,281

376,708

219,805

Rs. 156,902

Rs. 1,741,475

   

Rs.

Rs.

   

3 Rs. 1,741,475

376,708

237,390

Rs. 139,318

Rs. 1,504,085

   

Rs.

Rs.

   

4 Rs. 1,504,085

376,708

256,381

Rs. 120,327

Rs. 1,247,704

   

Rs.

Rs.

   

5 Rs. 1,247,704

376,708

276,892

Rs. 99,816

Rs. 970,813

   

Rs.

Rs.

   

6 Rs. 970,813

376,708

299,043

Rs. 77,665

Rs. 671,770

   

Rs.

Rs.

   

7 Rs. 671,770

376,708

322,966

Rs. 53,742

Rs. 348,804

   

Rs.

Rs.

   

8 Rs. 348,804

376,708

348,804

Rs. 27,904

Rs. 0

USEFUL LINKS

Prime Minister’s Office www.pmo.gov.pk

· Small & Medium Enterprises Development Authority

· Pakistan Stone Development Company www.pasdec.org.pk

· National Bank of Pakistan (NBP) www.nbp.com.pk

· First Women Bank Limited (FWBL)www.fwbl.com.pk

· Government of Pakistan www.pakistan.gov.pk

· Ministry of Industries & Production www.moip.gov.pk

· Ministry of Industries & Production www.moip.gov.pk PASDEC Services / Information related to PM’s Youth
· Ministry of Industries & Production www.moip.gov.pk PASDEC Services / Information related to PM’s Youth

· Government of Punjab www.punjab.gov.pk

· Government of Sindh www.sindh.gov.pk

· Government of Khyber Pakhtoonkhwa www.khyberpakhtunkhwa.gov.pk

· Government of Balochistan www.balochistan.gov.pk

· Government of Gilgit Baltistan www.gilgitbaltistan.gov.pk

· Government of Azad Jamu Kashmir www.ajk.gov.pk

· Trade Development Authority of Pakistan (TDAP) www.tdap.gov.pk

· Security Commission of Pakistan (SECP) www.secp.gov.pk

· Federation

of

Pakistan

www.fpcci.com.pk

Chambers

of

Commerce

and

Industry

(FPCCI)

· State Bank of Pakistan (SBP) www.sbp.org.pk

CONTACT DETAILS:

Pakistan stone Development Company

2nd Floor ICCI Building G 8/1 Islamabad

051-9263465-7

2nd Floor ICCI Building G 8/1 Islamabad 051-9263465-7 PASDEC Services / Information related to PM’s Youth
2nd Floor ICCI Building G 8/1 Islamabad 051-9263465-7 PASDEC Services / Information related to PM’s Youth